- Despite remaining in the “Fear” zone, the current value represents a significant recovery from the record low of 5 set on Feb. 23.
- Included in the Crypto Fear & Greed Index score are variables that are mostly driven by retail, such as the amount of crypto-related Google searches and social media postings.
Following Bitcoin’s roughly 6% rally to almost $80,000 on Wednesday, a crypto market sentiment indicator reached its highest level in over three months. The Alternative.me Crypto Fear & Greed Index reached its highest position since January 18th, climbing 14 points to 46 out of 100. This was the biggest single-day rise in almost three months.
Despite remaining in the “Fear” zone, the current value represents a significant recovery from the record low of 5 set on Feb. 23, after the Trump administration’s 15% worldwide tariff, which caused Bitcoin to drop to about $63,000.
At the Fear level since January 18th, the crypto sentiment index has failed to budge. Despite Washington’s crypto-friendly regulatory agenda and Wall Street’s ongoing institutional adoption of cryptocurrencies, this has occurred.
Bitcoin Price Holds Momentum
Retail traders haven’t turned out in the same quantities as in past market cycles, however, as pointed out by Bitwise chief investment officer Matt Hougan and others.
Included in the Crypto Fear & Greed Index score are variables that are mostly driven by retail, such as the amount of crypto-related Google searches and social media postings.
According to statistics compiled by CMC, Bitcoin’s price surged all the way to $79,400, a 5.9% increase. The king of crypto has shown strong momentum, despite failed peace talks in the Middle East. Wednesday, CryptoQuant’s chief of research Julio Moreno wrote an X post in which he claimed that demand in the perpetual futures market was entirely driving the increase in Bitcoin’s price.
But he did say that spot demand has been falling, albeit slowly, and that a market correction might happen if traders cash out while demand is still falling. Traders are looking out for any positive outcome of the ongoing peace talks in the Middle East, since it could further drive up the price of Bitcoin above $80,000.
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